Cellecor Gadgets Limited Approves Fundraising of Rs. 98,00,00,000 via Warrants
Cellecor Gadgets Limited announced decisions made during its Board of Directors meeting held on April 07, 2026. Among the key outcomes was the approval for the company to raise funds by way of issuing securities on a preferential basis.The Board approved the creation, issuance, and allotment of up to 3,50,00,000 Fully Convertible Warrants. These warrants are convertible into an equivalent number of fully paid-up equity shares of the company, each having a face value of Re. 1. The fundraising is intended to meet the company's funding requirements, enhance its financial strength and stability, and augment its financial resources.
The preferential allotment is directed to Mr. Ravi Agarwal, the Managing Director and Promoter of the Company. The issue price set for the warrants is Rs. 28 per warrant, which was noted to be higher than the floor price determined under the relevant SEBI regulations. The aggregate amount sought through this issuance is up to Rs. 98,00,00,000. The funds are payable in cash, in accordance with the provisions of the Companies Act, 2013.
Upon the allotment of these warrants, an amount equivalent to 25% of the total issue size is to be called upfront from the proposed allottees.
Postal Ballot and Corporate Actions
In addition to the fundraising approval, the Board passed resolutions related to seeking member approval for these decisions through a postal ballot process. The company approved the draft Notice of Postal Ballot along with the calendar of events.The timelines established for the postal ballot process are detailed below:
| Milestone | Date |
|---|---|
| Cut-off date for dispatch and E-voting | April 03, 2026 |
| Dispatch date of postal ballot | April 07, 2026 |
| E-voting period | From 9:00 a.m. (IST) on April 08, 2026 up to 5:00 p.m. (IST) on May 07, 2026 |
The company also approved the appointment of Ms. Anu Malhotra, Proprietor of M/s. Anu Malhotra & Associates, as Scrutinizer for the Postal Ballot process, and National Securities Depository Limited (NSDL) as the authorized agency for conducting the Postal Ballot via the remote e-voting facility.
Review of Previous Non-Compliance
The Board reviewed a communication from the National Stock Exchange of India Limited regarding non-compliance under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board members noted that the non-compliance was procedural in nature, resulting from an oversight in interpreting applicable regulatory timelines, and involved no wrongful intent. It was recorded that the fine levied by the Exchange has been paid within the prescribed timeline.Details of Preferential Issue
The specifics of the proposed issue were summarized in a disclosure table:| Particulars | Detail |
|---|---|
| Type of securities proposed to be Issued | Fully Convertible Warrants |
| Type of issuance | Preferential Allotment |
| Total number of securities proposed to be issued or total amount for which the securities will be issued | Up to 3,50,00,000 Fully Convertible Warrants convertible into equal number of Equity Shares of face value of Re. 1/- each, to person belonging to Mr. Ravi Agarwal, Managing Director and Promoter of the Company, at an issue price of Rs. 28/- for aggregating amount of up to Rs. 98,00,00,000. |
| Name and number of the Investor(s) | Mr. Ravi Agarwal |
| Issue price | Rs. 28/- per warrant |
The outcome of the subscription post-allotment of securities showed the following allocations:
| Category | Pre No of Shares | Post Preferential Allotment % | Post Preferential Allotment No of Shares |
|---|---|---|---|
| Promoters& Promoter Group (A) | 10,21,64,850 | 53.70 | 11,85,12,950 |
| Public (B) | 11,85,12,950 | 46.35 | 13,71,64,850 |
| Total (A) + (B) | 22,06,77,800 | 100.00 | 25,56,77,800 |
Regarding the warrants, the tenure is not to exceed 18 months from the date of allotment. Each warrant grants the right to subscribe 1 Equity Share, which can be exercised in one or more tranches. Failure to exercise the warrants will result in the unexercised warrants lapsing and the amount paid being forfeited by the Company.
CELLECOR Stock Price Movement
Shares of Cellecor Gadgets Limited are edging higher to ₹29.7 as of 12:17 PM today, rallying 2.95% on the live market. The stock is showing robust momentum, evidenced by trading 660,000 shares in volume so far.Source:
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